## TREASURER’S REPORT FOR 2020
## Introduction
Praise be to God for I am never anything but amazed by the generosity of our congregation!
For 2020 the PCC approved a budget with a small surplus of £773, based on budgeted income of £84,123 and budgeted expenditure of £83,123.
Despite the unusual nature of the year due to the Corona virus disrupting the normal worship patterns, the opportunity to hold fundraising events and closing the hall for the majority of the year, but with thanks to the continued generosity of the congregation, our income missed budget by just £1,110.
||2020|2019*|2018|2017|
|---|---|---|---|---|
|Total income|£83,013|£86,260|£89,511|£94,470|
|Total expenditure|£76,104|£91,340|£90,691|£98,180|
|Surplus / loss|£6,908|(£5,080)|(£1,180)|(£3,709)|
*first year of Receipts and Payments accounts
As you can see from the table above, the downward trend in income continues.
Our cost base was much lower than expected, partly due to not being able to hold events and not needing to heat the buildings as we weren’t allowed to use them for much of the year. Costs were also lower than budgeted as monies set aside by the PCC for various designated reasons, or amounts in restricted funds, were not spent. For example, belfry costs, replacement of some equipment and so on.
See note 8 below for greater detail regards “church running expense”.
Given the near budget income and the much-reduced expenditure the Parish made a surplus of nearly £7,000.
However, it is worth pointing out that we do have a toilet refurbishment that needs completing during 2021, which, if completed during 2020, would have brought the surplus back to something closer to the budgeted amount.
Additionally, the Gift Aid receipts shown in the accounts to 31[st] December 2020 represent 19 months of reclaimed tax from HMRC, hence a greater value compared to the previous year, and more than we will receive in future years.
Finally, it is worth noting that we continue not to pay our full Parish Share although we have managed to increase our contribution again this year, all be it by a small amount. We do continue to maintain our Away Giving at 10% of income. Both these points have been discussed at the PCC when setting the budget and will continue to be our position with the intention of increasing our Parish Share as and when possible.
## 2021 budget and the current situation
Regular income is forecast to continue to decrease, therefore the PCC has approved a budget for 2021, with budgeted income of £71,625 including a gift day in July and a budgeted expenditure of
£78,811 which will lead to a deficit of £7,186. These figures do not include income and expenses managed separately by the Friends of All Saints.
The PCC were prepared to accept this budget on the basis of the 2020 surplus, the known cost of the toilet refurbishment and the 19 months of Gift Aid recognised in 2020 against a budget claim of 11 months of Gift Aid in 2021.
## Current update
At the time of setting this budget it was clear that at least the first half of the year would be as disruptive as 2020 and therefore the choice was made to take a prudent approach, particularly to income based on hall hire and events. I am pleased to report that overall, by the end of April, we are £2,516 ahead of where we expected to be. This is most welcome as there are also some additional, unexpected costs which the PCC are currently addressing.
These challenges included the need for a new laptop for the parish office/Stewart Gibbs, repairs or replacement notice board for St Mary’s and the potential of new technology to allow for blended delivery of services via live streaming and on premise.
As before, these figures do not include income and expenses managed separately by the Friends of All Saints.
## Thanks
As treasurer and on behalf of the PCC I would like to thank everybody who made donations to the Church. No matter how big or how small, regular or simply one-off, each donation helps support the functioning of our Church and they are all very gratefully received. Thanks to you all.
## Acknowledgements
As always, I would like to give a special thanks to Jo Saward without whom I wouldn’t be able to complete my function as treasurer and the PCC as a whole who are very supportive of the finance function.
This year I need to thank Andrew Bowtle for carrying out the independent examination of our accounts, as required by the Charities Commission. I’m also delighted to report that he is happy to carry out this same task again next year.
## **Prepared by Peter Garner – Treasurer**
## **4[th] May 2021**
## Financial Statement
The independent examiner raised no concerns.
The following is a summary of income and expenditure for the year ended 31 December 2020
|**Receipts and Payments Accounts**
N
B
**RECEIPTS**
**Voluntary**
**receipts:**
Planned giving
Collections at
services
All other
giving/donations
Gift Aid recovered
**Activities for generating funds**
**Investment**
**income**
**Church**
**Activities**
7
**Total receipts**
**PAYMENTS**
**Church**
**Activities:**
Diocesan parish
contribution
Clergy and staffing
costs
Church running
expenses
8
Hall running costs
Mission giving and
donations
**Costs of generating funds:**
**Total**
**payments**
**Surplus/(defic**
**it)**|_Unrestrict_
_ed_
_Designate_
_d_
_Restricted_
_Funds_
_Funds_
_Funds_
£
£
£
44,455
-
-
513
-
-
11,321
-
1,071
19,589
-
-|TOTAL
2020
£
44,455
513
12,392
19,589
76,949
195
640
5,229
83,013
50,284
1,081
14,231
2,311
8,052
75,958
146
76,104
6,908|TOTAL
2019
£
44,050
1,708
16,196
7,919|
|---|---|---|---|
||75,879
-
1,071
155
-
40
90
-
549
5,229
-
-||69,872
6,914
803
8,671|
||81,353
-
1,660||86,260|
||50,284
-
-
1,047
34
-
12,696
-
1,535
2,311
-
-
-
7,630
422
66,337
7,664
1,957
-
80
66
66,337
7,744
2,023
15,016
(7,744)
(363)||49,002
1,123
25,283
3,183
10,598|
||||89,188
2,152|
||||91,340|
||||(5,080)|
|**Transfers between funds**
6
**Cash at bank and in hand at 1 January**
**2020**
6
**Cash at bank and in hand at 31**
**December 2020**|(3,062)
3,062
-
11,954
(4,682)
(363)
13,401
10,387
23,995
25,354
5,705
23,632|-
6,908
47,783
54,691|-|
|---|---|---|---|
||||(5,080)
52,862|
||||47,783|
There were no receipts or payments relating to endowment funds during the year ended 31 December 2020
## Restricted and Designated funds summary
## **Statement of Assets and Liabilities**
|N
B
**Cash funds**
Bank current account
Cash in hand
Deposit funds
**Other monetary assets**
Gift Aid Recoverable
**Investment Assets**
Investment fund shares at
market value:
3
Norton Mandeville Tithe
Chancel Fund
Sunday School Trust
Endowment Fund
**Liabilities**
2020 invoices paid in 2021|_Unrestrict_
_ed_
_Funds_
£
5,536
-
19,817
25,353
5,748
-
-
-
180|_Designat_
_ed_
_Funds_
£
-
-
5,706
5,706
-
-
-
-
-|_Restrict_
_ed_
_Funds_
£
-
23,632
23,632
-
-
-
-
-|_Endowme_
_nt_
_Funds_
£
-
-
-
-
-
3,198
13,062
16,260
-|TOTAL
2020
£
5,536
-
49,155
54,691
5,748
3,198
13,062
16,260
180|TOTAL
2019
£
17,070
611
30,102|
|---|---|---|---|---|---|---|
|||||||47,783|
|||||||13,310|
|||||||2,905
15,310|
|||||||18,215|
|||||||556|
The restricted All Saints fund is managed by the Friends of All Saints Norton Mandeville. The restricted Give away fund is used to record monies raised during the year for specific causes and charities, as these monies are restricted to the purpose for which they were raised
## **Notes**
The financial statements of the PCC have been prepared in accordance with the Church
- 1 Accounting Regulations 2006 using the Receipts and Payments basis
The PCC recognises the asset of the land and buildings known as St James’ Hall, St James’
- 2 Avenue, but does not value this asset in the statement of assets
and liabilities.
The endowment funds have to be retained as capital funds, and are invested in funds managed
- 3 by the Chelmsford Diocesan Board of Finance.
- 4 Reserves Policy
It is PCC policy to try to maintain a balance on unrestricted funds that equates to at least four months' unrestricted payments.
This is equivalent to £22,615. It is held to smoothe out fluctuations in cash flow and to meet emergencies. The cash balance
of £25,353 held on unrestricted (not including designated) funds at the year end exceeds this target.
- 5[Outward giving policy ]
The PCC models good practice in Christian giving through its outward giving policy. Amounts given as a result of specific fund-raising
events and special collections are augmented by amounts allocated from general funds so that a total amount equal to 10% of
general fund income is donated to local, national and international charities.
The movements in designated and restricted funds
- 6 during the year were:
||Bal|Receipt|Payme||Bal|
|---|---|---|---|---|---|
||b/fwd|s|nts|Transfer|c/fwd|
|**_Designated Funds_**||||||
|Away giving 2020|7,568|-|7,630|62|-|
|Away giving 2021||||3,000|3,000|
|Benevolent
Local Mission
Bible Notes
Equipment
**_Restricted Funds_**
All Saints
Belfry
Youth Work
Give away
Community Christmas
Garden of
Remembrance|865
864
90
1,000
10,387
21,138
882
1,027
-
823
125
23,995|-
-
-
-
-
680
-
539
442
-
-
1,660|34
-
80
-
7,744
1,375
160
422
66
-
2,023|3,062
-
-
-
-
-
-
-|831
864
10
1,000|
|---|---|---|---|---|---|
||||||5,705|
||||||20,443
882
1,405
20
757
125|
||||||23,632|
The restricted All Saints fund is managed by the Friends of All Saints Norton Mandeville.
The restricted Give away fund is used to record monies raised during the year for specific causes and charities, as these monies are restricted to the purpose for which they were raised.
During the year to 31 December 2020, church activities were made up of £3,871 (2019: £4,350) of fees received for weddings and funerals, and £1,358 (2109: £4,225) from the hiring of St 7 James’ Hall.
|8 Church running expenses are made up of:
Music and Worship expenses
Church building running expenses
Church office expenses
Printing, postage and stationery
Service expenses
Upkeep of churchyard and grounds
Maintenance expenses|**_2020_**
**_2019_**
471 574
5,270 5,952
494 956
1,997 1,824
429 627
2,970 3,192
1,001 1,582|
|---|---|
||12,631 14,706|
PARISH OF HIGH ONGAR
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
I rep)rt on the accounts of Parish of H*3h Ongar for the end 31*t Dernber 2020,
whh are set out on pages
Respective responsibilities of truste05 and examlner
The charty's trustees are reswnsible for the preparation of the accounts. The charity's
trustees consider th* an audit is not required for this year under sects.on 144 of the Charities
Act 2011lthe Charities Act) and that an independent examination is required.
It is my responsibilty to-
examine the accounts under section 145 of the Chare5 Art
to follow the procedures Laid down in the General Direcb"ons given by the Charity
Commissioners lunder section 145{5}Ib} of the Charities Act}" and
to stsle whether particular matters have come to my attenb"on.
Basis of independent •xamineVs report
My examination was ¢amed out in accordance with the general Directions given by the
Charity Commissioners. An examination includes a review of Ihe accounting records kept by
the charity and a comparison of the accounts presented wrth those records. It also includes
¢onsiderab"on of any unusual items or disclosures in the accounts and seeking explanations
from you as trustees conceming such matters. The procedures undertaken do not provide all
the eviden that would be required in an audit and. consequenuy. no opinion is given as to
whether the accounts present a 'true and fairf view. and the regret is limrted to those matters
set out in the statement below.
Indopgndenl examinerfs statsmgnt
In connectr)n wrth my examination, no matter has come to my attention..
1} whith gives me reasonable Cause to believe that in any material resF*Ct the
requirements
lo keep accounting recths in rdance with section 130 of the Charities Act,.
to prepare accounts Whti aord wth the accounting records and compty with
the accounkn.ng requirements of the charib.es Act have not been or
21 to which, in my opini, attention should be drawn to enable a proper
understanding of the accounts to be re&hed.
Andrew Bowtle MA4T Limited
Suites 1 - 4 Central House
High Street
Ongar
Essex CM5 9AA
30th April 2021
PARISH OF HIGH ONGAR
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
I rep)rt on the accounts of Parish of H*3h Ongar for the ended 31*t Dernber 2020,
whh are set out on pages
Respective responsibilities of trust•¢s and examlner
The charty's trustees are responsible for the preparation of the accounts. The charity's
trustees consider that an audit is not required for this year under sects.on 144 of the Charities
Act 2011lthe Charib'es Act) and that an independent examination is required.
It is my responsibility to-
examine the accounts under section 145 of the chale5 Art
to follow the procedures Laid down in the General Direcb"ons given by the Charity
Commissioners (under section 145{5}Ib) of the Charities Act}" and
to stsle whether particular matters have come to my attenb"on.
Basis of independent •xaminerfs report
My examination was ¢amed out in accordance wth the general Directions given by the
Charity Commissioners. An examination includes a review of Ihe accounting records kept by
the charty and a comparison of the accounts presented wrth those records. It also includes
¢onsiderab"on of any unusual items or disclosures in the accounts and seeking explanations
from you as tSteeS conceming such Matters. The procedures undertaken do not provide all
the evidence that would be required in an audit and. consequenuy. no opinion is given as to
whether the accounts present a 'true and fairf view. and the regret is limrted to those matters
sel out in the statement below.
Ind¢pgndenl examinerfs statemgnt
In connectr)n wrth my examination, no ITter has come to my attention..
1} whith gwes me reasonable Cause to believe that in any material respect the
requirements
lo keep accounting recths in *cordance with section 130 of the Charities Act,.
lo prepare accounts Whti ard wth the accounting records and compty with
the accounkn.ng requirements of the charib.es Act have not been n*( or
21 to which, in my opinion, attention should be drawn lo enable a proper
understanding of the accounts to be rhed.
Andrew Bowtle MAAT Limited
Suites 1 - 4 Central House
High Street
Ongar
Essex CM5 9AA
30th April 2021